National Bank of Poland cuts rates to record low of 0.5%
The National Bank of Poland (NBP) has reduced interest rates by 50 basis points and expanded its asset purchase programme in a bid to reduce the impact of Covid-19 on the economy.
As a result, the reference rate is now at a record low of 0.5%. The decision follows the 50bp rate cut the monetary policy council implemented on March 18. Back then, the central bank also reduced banks’ reserve requirements, which it estimates released 40 billion zloty ($9.5 billion) for lending.
In the policy
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary policy decisions
Thailand’s central bank raises interest rate for sixth consecutive time
Central bank highlights upside risks to inflation amid economy recovery
Sarb raises rates and warns of worsening economy
Central bank cuts growth forecast and says long-term inflation expectations are rising
Nigerian MPC continues tightening
Official figures show slight rise in inflation as pressure on currency continues
Iceland raises rates 125bp to head off ‘wage-price spiral’
MPC orders largest increase in two-year tightening cycle as inflation remains near 10%
RBNZ raises rates to peak level
Central bank predicts rates will come down slightly faster than in February forecast
Bank of Israel increases rates by 25bp to 4.75%
Central bank stresses inflation slowed down over the last three months
PBoC holds key lending rates for ninth straight month
Central bank unlikely to cut rates this year amid yuan weakness, analysts say
Argentina raises rates again
Economic stability grows more distant as elections loom